Remarketing

Weekly Compact Van Wholesale Values Rise

March 21, 2017
• by Staff

Courtesy of Black Book

Full-size cars, sporty cars, and compact vans were the only vehicle segments that saw their average wholesale values increase in value last week, according to Black Book’s March 20 Market Insights report.

Following a continuing trend, the worst-performing vehicle in the car segment was the prestige luxury car, which realized a depreciation rate of 0.99%. Similarly, in the truck segment, the worst performing vehicles were mid-size luxury crossovers/SUVs, compact luxury crossovers/SUVs, and full-size pickups.

Sales of vehicles to commercial fleets from eight manufactures increased 8.8% to 743,210 in 2018, even with a weaker December, on the strength of sales of trucks, SUVs, and vans that accounted for nearly nine units out of every 10 sold.

The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.

Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.